Brokerages Set Marvell Technology Group Ltd. (MRVL) Target Price at $18.14

Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) have been assigned a consensus recommendation of “Buy” from the twenty-six ratings firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, thirteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $18.56.

MRVL has been the topic of several recent analyst reports. CIBC raised Marvell Technology Group from a “market perform” rating to an “outperform” rating in a research report on Friday, May 26th. BidaskClub lowered Marvell Technology Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. TheStreet raised Marvell Technology Group from a “c” rating to a “b” rating in a report on Thursday, May 25th. Zacks Investment Research lowered Marvell Technology Group from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $21.00 target price on shares of Marvell Technology Group in a report on Tuesday, April 18th.

Marvell Technology Group (NASDAQ MRVL) opened at 15.05 on Friday. The firm has a market cap of $7.56 billion, a P/E ratio of 50.84 and a beta of 1.10. Marvell Technology Group has a one year low of $11.30 and a one year high of $18.18. The stock’s 50 day moving average is $16.22 and its 200 day moving average is $15.97.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, May 25th. The semiconductor company reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.04. The firm had revenue of $579.18 million for the quarter, compared to analyst estimates of $570.72 million. Marvell Technology Group had a return on equity of 7.96% and a net margin of 6.19%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.01 EPS. On average, equities research analysts expect that Marvell Technology Group will post $1.10 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 21st. Shareholders of record on Wednesday, July 5th were issued a $0.06 dividend. The ex-dividend date was Friday, June 30th. This represents a $0.24 annualized dividend and a yield of 1.59%. Marvell Technology Group’s payout ratio is currently 82.76%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Profund Advisors LLC raised its position in Marvell Technology Group by 19.1% in the first quarter. Profund Advisors LLC now owns 80,048 shares of the semiconductor company’s stock worth $1,222,000 after buying an additional 12,821 shares in the last quarter. First Trust Advisors LP raised its position in Marvell Technology Group by 136.8% in the first quarter. First Trust Advisors LP now owns 364,273 shares of the semiconductor company’s stock worth $5,559,000 after buying an additional 210,421 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its position in Marvell Technology Group by 18.2% in the first quarter. Dynamic Technology Lab Private Ltd now owns 20,203 shares of the semiconductor company’s stock worth $309,000 after buying an additional 3,106 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in Marvell Technology Group by 454.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,777 shares of the semiconductor company’s stock worth $122,000 after buying an additional 7,195 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in Marvell Technology Group by 7.7% in the fourth quarter. Franklin Resources Inc. now owns 14,079 shares of the semiconductor company’s stock worth $195,000 after buying an additional 1,006 shares in the last quarter. Institutional investors own 74.62% of the company’s stock.

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About Marvell Technology Group

Marvell Technology Group Ltd. is a semiconductor provider of application-specific standard products. The Company is engaged in the design, development and sale of integrated circuits. The Company develops System-on-a-Chip (SoC) devices. It also develops integrated hardware platforms along with software that incorporates digital computing technologies designed and configured to provide an optimized computing solution.

Analyst Recommendations for Marvell Technology Group (NASDAQ:MRVL)

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